Hazoor Multi Projects Surge To 5% Upper Circuit Limit Amid New Contracts And Upcoming Dividend

Hazoor Multi Projects Ltd., a leading player in the infrastructure development sector, saw its shares rise by 4.83% today, marking a fresh 52-week high at Rs 565 per share, up from its previous close of Rs 538.95. This impressive gain further solidifies the company's reputation as a multibagger stock, delivering a remarkable 391.3% return from its 52-week low of Rs 115 per share.

The surge in stock price comes on the heels of Hazoor Multi Projects securing several new contracts. The company was awarded significant work orders, including one from B.G. Shirke Construction Technology Pvt. Ltd. for excavation at various key sites such as Pahadi Goregaon, Shirdhon, Khoni, Nawde, CPWD, Taloja, Thane, and Kanamwarnagar. The total value of this contract stands at Rs 30 crore, excluding applicable taxes.

Additionally, Hazoor has been awarded another contract from Welspun Enterprises Limited for stacking and dewatering works, with the project valued at Rs 40 crore, also excluding taxes. These developments reflect the company's growing reputation and ability to secure high-value contracts in the competitive infrastructure sector.

In a noteworthy advancement, Hazoor Multi Projects emerged as the lowest bidder (L-1) for a large-scale project awarded by the Maharashtra State Infrastructure Development Corporation (MSIDC). This project focuses on the widening and improvement of the Paldhi-Amalner-Dondaicha-Nandurbar-Dhanora-to-Gujarat-State Border Road (SH-6) on an EPC (Engineering, Procurement, and Construction) basis. The contract, valued at Rs 273.74 crore plus applicable GST, is set to be executed over 2.5 years. Importantly, there are no related party transactions or conflicts of interest involved in this deal, further strengthening Hazoor's credibility in the sector.

In August 2024, Hazoor Multi Projects reported its financial results for the quarter ending June 30, 2024. The company posted a net profit of Rs 0.08 crore, with net revenue from operations reaching Rs 34.16 crore. These results reflect Hazoor's steady financial growth and its ability to generate revenue through diversified projects.

The company's Board of Directors also declared a first interim dividend of Rs 2 per fully paid-up equity share, with a face value of Rs 10 per share, for the financial year 2024-25. This interim dividend is set to be distributed to shareholders within the stipulated timeframe, further demonstrating Hazoor's commitment to rewarding its investors.

In another strategic move, Hazoor's Board of Directors approved a stock split in the ratio of 10:1. This means that each equity share with a face value of Rs 10 will be subdivided into 10 shares with a face value of Re 1 each. The stock split aims to enhance liquidity and make the company's shares more accessible to a wider pool of investors. The record date for the stock split has not yet been finalized but is expected to be announced soon.

Founded in 1992, Hazoor Multi Projects began as a residential construction firm and has since evolved into a prominent infrastructure development company. Specializing in national highway projects, the company operates mainly as a subcontractor for government agencies, including the Maharashtra State Road Development Corporation and the National Highways Authority of India (NHAI).